Global Sterilization Equipment Market key Valuable Growth Prospects and Insights on Future Scenario

Albany, USA, 2018-Dec-07 — /EPR Network/ —A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Sterilization Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. The report anticipates that the sector for Sterilization Equipment Market would rise at a positive CAGR during the period 2018-2026.

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Sterilization is an important procedure for infection control in healthcare facilities such as hospitals, clinics, and laboratories. Increase in hospital acquired infections has compelled medical professionals to take stringent regulatory actions to cure these infections with the usage of various sterilization equipment available for complete elimination of microorganisms. This is an important factor that is expected to boost the sterilization equipment market during the forecast period. The global sterilization equipment market was valued at US$ 4,582.50 Mn in 2017 and is anticipated to reach US$ 8,465.53 Mn by 2026, expanding at a CAGR of 6.1% from 2018 to 2026. Rise in the geriatric population and increase in the number of surgeries performed at hospitals and clinics is anticipated to drive the demand for sterilization equipment during the forecast period.

Increase in number of surgeries, rise in prevalence of various diseases such as cancer and tuberculosis, and increase in number of hospital-acquired/associated infections (HAI) are key factors that are projected to propel the global sterilization equipment market. Hospital acquired infections is a significant cause of mortality worldwide. According to the U.S. Department of Health and Human Services, it is been estimated that one in every 20 infections is HAI, in the U.S. alone. Therefore, sterilization equipment witnessed an increase in demand in order to maintain the sterility of these hospitals and various other healthcare organizations. However, shifting trend toward utilization of disposable medical devices and excise duty imposed on medical device manufacturers are major factors restraining the global sterilization equipment market.

The global sterilization equipment market has been segmented based on method, end-user, and region. In terms of method, the global sterilization equipment market has been classified into heat sterilization/high-temperature sterilization, low-temperature sterilization, ionizing radiation sterilization, and filtration sterilization. The heat sterilization/high-temperature sterilization segment has been further sub-segmented into autoclave and hot air oven. The low-temperature sterilization method includes ethylene oxide sterilization, hydrogen peroxide gas plasma, and others. Ionizing radiation sterilization consists of gamma sterilization, electron beam sterilization, and others. In terms of end-user, the global market has been classified into hospitals and diagnostic centers, pharmaceuticals companies, educational institutes, and medical device companies. In terms of region, the global sterilization equipment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Based on end-user, the hospital and diagnostic centers segment dominates the global sterilization equipment market. Hospitals are witnessing robust expansion, propelled by joint ventures, acquisitions, and provision of one-stop-shop services under one roof for various medical needs. Global demand for medical devices that are utilized in hospitals is rising rapidly due to the increase in number of surgeries performed worldwide. Moreover, rising geriatric population has also contributed toward the demand for sterilized medical devices. Furthermore, hospital-acquired infections are likely to propel the hospitals and diagnostic centers segment of the market in the near future.

Based on method, the heat sterilization/high-temperature sterilization segment dominates the global sterilization equipment market. The segment dominates the market, as heat sterilization is primarily utilized for sterilization of moisture sensitive and thermo stable products (e.g. oil, fat waxes and paraffin silicones). Heat sterilization equipment are easy to handle and inexpensive in nature; hence, these factors drive the market. The autoclave sub-segment is witnessing rapid expansion, as this device is reliable and requires low capital investment for installation in medical institutes such as hospitals and laboratories. Low-temperature sterilization is a prominent segment, following the heat sterilization segment, of the global sterilization equipment market. The ethylene oxide sub-segment holds a significant share of the low temperature sterilization segment of the market. Penetrating ability of ethylene oxide is higher than other low temperature sterilizers such as hydrogen peroxide and per acetic acid that provides effective sterilization of products. This, in turn, fuels the market. Additionally, ethylene oxide sterilization is effectively employed for sterilization of heat-sensitive devices.

In terms of region, North America and Europe accounted for a combined market share of 60% in 2017. High prevalence of infectious diseases such as cholera, influenza, and syphilis in North America fuelled the demand for utilization of sterilization equipment. Likewise, Europe accounted for a prominent share, and followed North America in terms of share, of the total global market, due to the presence of a large geriatric population that is more prone to infections. Asia Pacific is regarded as an emerging market for sterilization equipment owing to the presence of large patient population, poor sanitization, and low awareness about sterilization among the people in the region.

Major players operating in the global sterilization equipment market include 3M, Advanced Sterilization Products Services, Inc., Belimed AG, Cantel Medical Corp., Getinge Group, SAKURA SI CO., LTD., STERIS Corporation, and TSO3, Inc. These players adopt organic and in-organic growth strategies in order to expand product offerings, strengthen geographical reach, increase customer base, and capture market share.

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